Michael Dzialo, Portfolio Manager

The United States begins the year with elections looming. Depending on who you ask, the world as we know it may cease to exist. To the contrary, we believe the end of the world is far from near; however, as we approach November 3rd, we would like to provide some context to the race and identify key issues and industries that could be most affected by the outcome.

What impact will the November 2020 Presidential elections have on the financial markets? When will an economic downturn occur? These are two questions that have been at the forefront of investors’ minds. These concerns will likely continue to grow, reaching a crescendo near next year’s election.

News related to progress (or rather lack thereof) on the trade front with China has moved the financial markets year-to-date and for a good portion of last year.

News related to progress (or rather lack thereof) on the trade front with China has moved the financial markets year-to-date and for a good portion of last year.

Rising interest rates in the U.S. have been a key driver behind the turmoil in the emerging markets.   While there will likely be additional upward bias for interest rates in the U.S., we believe rate hikes may not be as aggressive as feared by some on Wall Street. 

Rising interest rates in the U.S. have been a key driver behind the turmoil in the emerging markets.   While there will likely be additional upward bias for interest rates in the U.S., we believe rate hikes may not be as aggressive as feared by some on Wall Street.